Iron ore price, page-54826

To be fair, FMG held up so much better today than other mining majors. Plus Dalian futures is down 3 to 4% after a Thursday high. So maybe not a blood bath expected (how to define and what percentage loss is a blood bath anyway...) but I expected to be down some bit.

I was expecting to see high 16s or low 17s finish, which it did do sort of this morning. But then the price recovered. Dalian futures fell about 1 to 1.5% today.

Sentiment was obviously on the positive side even though some fundamentals should have pulled it down.

I think if iron ore futures slide any amount down tonight it and in the morning. Say below 650. Then I think then the price will likely come back down a bit.

What the recent weeks have shown is there is a bit of resistance at the 15 to 17 dollar level. I still wait. I have other options to invest in if I cannot top up near my desired price level.